AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 10,000 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 10,000 shares of the business’s stock in a transaction on Friday, September 18th. The shares were purchased at an average cost of $3.49 per share, for a total transaction of $34,900.00. Following the transaction, the director directly owned 6,962,446 shares of the company’s stock, valued at approximately $24,298,936.54. The trade was a 0.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AFC Gamma Stock Up 1.4%

Shares of NASDAQ:AFCG opened at $3.50 on Wednesday. The business’s 50-day moving average is $3.16 and its 200-day moving average is $3.07. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $4.29. The company has a market capitalization of $79.34 million, a price-to-earnings ratio of 18.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. Equities research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.7%. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Analyst Ratings Changes

AFCG has been the topic of several recent research reports. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.